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887305

registered interest
date	19/04/2018
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Research: Israel
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made of benefits to the UK from Israeli advances in medicine, science and technology.
tabling member printed	Baroness Deech
uin	HL7102
answer	answer is ministerial correction date of answer 03/05/2018 answer text <p>BIRAX (the Britain Israel Research and Academic Exchange Partnership) is a £10 million initiative of the UK Government and the British Council in Israel funding cutting-edge research into regenerative medicine. Over £8 million has been committed to 19 projects in the UK and Israel funding research in Oxford, Cambridge, Nottingham and Edinburgh universities. The programme provides an invaluable framework for enabling knowledge exchange between UK and Israeli researchers.</p><p>Researchers presented BIRAX supported research at 71 conferences and workshops to over 21,000 scientists and researchers, postdoctoral students and students across 22 countries including the US, India, China, France, Japan, Germany, Sweden as well as to audiences in the UK and Israel. To date, 27 scientific articles have been published as a result of BIRAX projects and BIRAX funded research has been cited 635 times. Three of the seven BIRAX projects which concluded in 2016, have registered patents and two project teams have been approached by biotech companies expressing an interest in licensing their intellectual property. Three BIRAX projects have secured further funding for research initiated under the BIRAX initiative.</p><p> </p><p>In BIRAX’s first five years, three scientific conferences and two workshops have been held for BIRAX grantees, reaching over 1,000 participants from over 110 British and Israeli universities.</p><p> </p><p>This year a major new initiative, BIRAX Ageing, launched which will be the main academic research theme for the next 4-5 years.</p> answering member printed Lord Henley question first answered 03/05/2018 10:47:52 answering member 2616 label Biography information for Lord Henley
tabling member	3756 label Biography information for Baroness Deech

887316

registered interest
date	19/04/2018
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Carillion: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether the governance and collapse of Carillion will be considered by the Financial Reporting Council as part of their review of the UK Corporate Governance Code; and when that review will be published.
tabling member printed	Lord Mendelsohn
uin	HL7113
answer	answer is ministerial correction date of answer 02/05/2018 answer text <p>The Financial Reporting Council plan to publish a revised Corporate Governance Code in July 2018. The revised Code will take into account responses to its public consultation, which closed in February 2018, and developments relating to the collapse of Carillion to the extent appropriate while investigations and inquiries into Carillion are ongoing.</p> answering member printed Lord Henley question first answered 02/05/2018 17:00:38 answering member 2616 label Biography information for Lord Henley
tabling member	4286 label Biography information for Lord Mendelsohn

887317

registered interest
date	19/04/2018
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Carillion: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government, in light of Carillion’s claim in its 2016 Annual Report that in the event of extreme downside scenarios the Company “will be able to continue in operation” for a three year period, whether they plan to take steps to improve the accuracy of annual reporting and accountability for inaccurate company reporting.
tabling member printed	Lord Mendelsohn
uin	HL7114
answer	answer is ministerial correction date of answer 02/05/2018 answer text <p>The Financial Reporting Council is currently conducting an investigation into the preparation and approval of Carillion’s financial statements, as well as an investigation into KPMG’s audit of Carillion. The Government will consider any subsequent action that needs to be taken once those inquiries have reached their conclusion.</p> answering member printed Lord Henley question first answered 02/05/2018 17:01:02 answering member 2616 label Biography information for Lord Henley
tabling member	4286 label Biography information for Lord Mendelsohn

887318

registered interest
date	19/04/2018
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Directors: Performance Appraisal
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what is the framework for the regulation of corporate advisory firms undertaking board performance evaluations; and what assesment they have made of the effectiveness of that regulation.
tabling member printed	Lord Mendelsohn
uin	HL7115
answer	answer is ministerial correction date of answer 02/05/2018 answer text <p>The Financial Reporting Council’s (FRC) Corporate Governance Code sets out that company directors must ensure that an evaluation of the effectiveness of the board is carried out at least every 3 years, which in turn is reported to the shareholders of the companies.</p><p> </p><p>The FRC’s recent consultation on the UK Corporate Governance Code included proposals to improve reporting and practice in this area. These included strengthened principles and provisions about board effectiveness and individual director responsibilities. The FRC expect to publish a revised Corporate Governance Code in July 2018.</p> answering member printed Lord Henley grouped question UIN HL7116 question first answered 02/05/2018 17:01:24 answering member 2616 label Biography information for Lord Henley
tabling member	4286 label Biography information for Lord Mendelsohn

887319

registered interest
date	19/04/2018
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Directors: Performance Appraisal
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government, in light of Carillion’s claim in its 2016 Annual Report that the Board and Committee performance evaluation conducted by Linstock Limited “confirmed that the Board, each of its Committees and the Directors continue to be highly effective”, whether they plan to take steps to improve (1) the effectiveness and accountability of board performance evaluations and (2) regulation of firms undertaking those evaluations.
tabling member printed	Lord Mendelsohn
uin	HL7116
answer	answer is ministerial correction date of answer 02/05/2018 answer text <p>The Financial Reporting Council’s (FRC) Corporate Governance Code sets out that company directors must ensure that an evaluation of the effectiveness of the board is carried out at least every 3 years, which in turn is reported to the shareholders of the companies.</p><p> </p><p>The FRC’s recent consultation on the UK Corporate Governance Code included proposals to improve reporting and practice in this area. These included strengthened principles and provisions about board effectiveness and individual director responsibilities. The FRC expect to publish a revised Corporate Governance Code in July 2018.</p> answering member printed Lord Henley grouped question UIN HL7115 question first answered 02/05/2018 17:01:24 answering member 2616 label Biography information for Lord Henley
tabling member	4286 label Biography information for Lord Mendelsohn

887320

registered interest
date	19/04/2018
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what are their plans to improve the availability of working capital to businesses in financial distress; and what assessment have they made of debtor-in-possession financing models such as those available in the United States.
tabling member printed	Lord Mendelsohn
uin	HL7117
answer	answer is ministerial correction date of answer 03/05/2018 answer text <p>The directors and managers of businesses are responsible for ensuring the availability of working capital, including at times of financial distress. A prudent board of directors will ensure that the balance sheet is strong enough to withstand a deterioration in trading conditions. Other options may include reducing or suspending the payment of dividends, raising fresh equity, postponing planned capital expenditure and negotiating an increase in borrowing facilities.</p><p> </p><p>The Government has published its review of the Corporate Insolvency Framework consultation, which contained a package of proposals to improve the rescue opportunities for financially-distressed companies drawing on some of the features of the United States’ debtor-in-possession regime. The Government will set out the way forward for the proposals in its response later this year.</p> answering member printed Lord Henley question first answered 03/05/2018 16:55:41 answering member 2616 label Biography information for Lord Henley
tabling member	4286 label Biography information for Lord Mendelsohn